Commitment and Financial Freedom
Hi there!
As mentioned in one of the earlier posts, 'Financial Freedom' is attained when one no longer have to actively work, because his or her passive income is sufficient to cover all expenses. Sounds good?
However, none of it is going to come true if we just dream about it.
You see, there is is popular saying: "Nobody plans
to fail, but most fail to plan." Similarly, if we don't actually plan for financial freedom, chances are we won't get it!
To be successful in anything in life, one first have to make a decision to be successful, then one must commit to that. In the case of financial freedom, it is much easier to achieve it as compared to becoming a top athlete, winning the Nobel Prize or winning the lottery. All you need to do is start committing 'investment capital' to the cause.
Start by setting aside at least 10% of your income into a separate bank account that is set up specifically for the purpose of investment. This money is NEVER TO BE SPENT, only invested and reinvested. What to invest in is the least of your worries when you have the capital built up.
What about my savings, you may ask. Most people save money for 'rainy days'. And when you save for rainy days, guess what? The rainy days WILL come! This means those savings are going to get spent on non-wealth building purposes.
Start by making a commitment to reach financial freedom today. Even if it is a mere $1 in your 'financial freedom account', it makes a lot of difference as compared to doing nothing. Remember, success is a habit. So too is failure. So choose the right habits and in time, you'll reap the fruits of your labour.
Cheers!
As mentioned in one of the earlier posts, 'Financial Freedom' is attained when one no longer have to actively work, because his or her passive income is sufficient to cover all expenses. Sounds good?
However, none of it is going to come true if we just dream about it.
You see, there is is popular saying: "Nobody plans
to fail, but most fail to plan." Similarly, if we don't actually plan for financial freedom, chances are we won't get it!
To be successful in anything in life, one first have to make a decision to be successful, then one must commit to that. In the case of financial freedom, it is much easier to achieve it as compared to becoming a top athlete, winning the Nobel Prize or winning the lottery. All you need to do is start committing 'investment capital' to the cause.
Start by setting aside at least 10% of your income into a separate bank account that is set up specifically for the purpose of investment. This money is NEVER TO BE SPENT, only invested and reinvested. What to invest in is the least of your worries when you have the capital built up.
What about my savings, you may ask. Most people save money for 'rainy days'. And when you save for rainy days, guess what? The rainy days WILL come! This means those savings are going to get spent on non-wealth building purposes.
Start by making a commitment to reach financial freedom today. Even if it is a mere $1 in your 'financial freedom account', it makes a lot of difference as compared to doing nothing. Remember, success is a habit. So too is failure. So choose the right habits and in time, you'll reap the fruits of your labour.
Cheers!
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